Actually I earn about 180 dollars per month doing masonry work. I put aside a day's worth of my paycheck at the end of this work week to invest in Bitcoin and my wife puts about $25 of my monthly income into insurance. We have done this insurance for about 10 years.Where we have to deposit 25 dollars amount money every month.
JayJuanGee After reading the post you quoted me I explained to my wife that if we invest the money in the insurance we are collecting into bitcoins our bitcoins will increase. We will even get more money if we invest in bitcoins than if we put money in insurance.
Your claim is right and accurate but by doing so, you are already leaving something that is important to your family also. The benefits of insurance cannot be overstated and it serves its purpose for what it has been designed for. It is good to see that you’ve saved a lot in the insurance company for the past ten years, it will be better if you minimize your savings in the insurance and have more bitcoin savings plus the amount you are originally setting aside and investing into bitcoin monthly. Bringing the insurance savings to a stop is not a nice idea, you can continue with the insurance savings, while taking some percentage of the insurance savings and add to that of bitcoin savings. It will serve like balancing your investments by prioritizing one over the other but not necessarily halting any of the investments.
That is part of the lack of clarity in regards to AirtelBuzz's description of the insurance in regards to whether it was a savings plan or if it was something that actually was a way of maintaining coverage for accidents, injuries and such... and sometimes insurances have both aspects to them, some part of the monthly payment is for coverage of injuries and health and other part is for savings. and maybe there are ways to just have the more basic form of the insurance and then to put that savings portion into bitcoin.